Budget 2020

Most economies not to return to pre-pandemic activity levels until 2022: Moody’s

Moody’s said it expects a slow and bumpy global recovery and uncertainty around the macroeconomic outlook remains much higher than usual. Moody’s Investors Service on Thursday said the credit downturn arising out of COVID-19 will be short-lived but most economies will not return to pre-pandemic activity levels until 2022. In the year since the World […]

Budget 2020

‘Factory activity extends growth, input costs soar’

India’s factory activity expanded for the seventh straight month in February, driven by strong demand and increased output, according to a private sector survey that also showed input-cost inflation hitting a 32-month high. Although the Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, eased slightly to 57.5 in February from 57.7 in January, it […]

Budget 2020

India’s services sector activity expands at slower rate in December

India’s services sector activity expanded at a slower pace in December as rates of growth in sales eased to a three-month low and staff hiring came to a halt amid weak business optimism, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell from 53.7 in November to 52.3 in […]

Budget 2020

Manufacturing sector activity strengthened in December

India’s manufacturing sector activity strengthened in December, with manufacturers stepping up production and input buying amid efforts to rebuild their inventories following business closures earlier in the year, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’’ Index (PMI) was at 56.4 in December, a tick higher than November’s […]

Budget 2020

Services PMI signals rise in activity for a second month

The recovery in the Indian services sector was sustained in November as new work orders supported business activity growth and the first rise in employment in nine months, a monthly survey showed on Thursday. The seasonally adjusted India Services Business Activity Index posted above the critical 50 mark that separates growth from contraction for the […]

Budget 2020

Conditions will improve for Indian corporates in 2021 as economic activity gathers pace: Moody’s

Overall recovery will remain fragile as new infections continue to grow — although at a slower rate — and therefore new lockdowns cannot be ruled out, which would hinder consumer demand and recovery, Moody’s noted. Conditions will improve for Indian corporates next year as economic activity picks up steam post-lockdown and earnings grow on the […]